ELECTRIC POWER SCHEMES.
AUCKLAND, May 27. Mr Coates states that on the year’s working the Lake Coleridge electric power scheme showed a profit of £24,463. Th'.re w r as (he said) an accumulated deficiency to be wiped off, and the returns were most satisfactory, since they meant that £6724 would be available to begin payim. into the sinking fund. The sum of £18,500 had to be refunded to the Christchurch City Council if the new materials were not available by the end of July, but indications were that the department would have the work completed in contract time. The revenue from Horahora last year was approximately £85,000, and expenditure including working expenses, interost, depreciation, and sinking fund) was about £67,000, leaving & balance in hand of about £IB,OOO. Horahora was to be incorporated with the capital expenditure and revenue account of Arapuni, and interest, depreciation, and sinkii fund in connection with Horahoi would be a debit against Arapuni.
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Bibliographic details
Otago Witness, Issue 3768, 1 June 1926, Page 15
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157ELECTRIC POWER SCHEMES. Otago Witness, Issue 3768, 1 June 1926, Page 15
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